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Hi together,
I’m looking for an indicator which calculates and returns the usual (Pearson) correlation coefficient between the indicator values (preferably the stochastic) and prize. It would be great if you could attach an indicator which does exactly that if you have one or if you could link to another source where I could find this or a similar indicator. Many thanks in advance!
Try this one! Don’t remember where I grabbed it. Applied some minor changes to make it run under MT4 build 600+.
I did not check the pearson correlation function in detail, but ‘somehow’ it looks reasonable.
Have fun!
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
And for some background, refer to Chapter 14.5 over here.
s.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Ah ha this is part of a route that I am on at the moment.
Lowphat added some indicators on the VIDEO thread, here is a link below to the mql5 site for one of them, I hope to recode this so that you can have user input (ie gold, oil etc) and have it in a form of graph for intraday trading.
https://www.mql5.com/ru/code/9670
I have been doing some research into intermarket analysis and currently have been trading using my usual indicators but then adding as an extra filter correlation, by the way correlation works sometimes but not others so beware here. results were promising.
so for example USD/CHF usual indis plus DXY, GOLD another USD/CAD usual indis pus DXY, WTI
Currently just started reading this book
and here is the chaps site
http://www.mkatsanos.com/index.html
Problem is time (lack of it !!!!!)
Pip
skype : pipatronic
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